Collapsed crypto exchange FTX and 130 affiliates filed for bankruptcy in Delaware on Nov 11. Chaos followed as a number of FTX creditors, investors and industry experts began to question what would happen next. Laura Shin, crypto journalist, author and host of the Unchained Podcast, sent a tweet on Nov. 15 questioning whether the alleged inter-loan agreement between FTX and Alameda — the company’s venture capital arm — will affect creditors’ and customers’ ability to get back funds. Could one big venture success out of FTX Ventures be a viable path to recovery for FTX creditors & customers? @wassielawyer and …

The Canadian cryptocurrency exchange Bitvo has terminated its expected acquisition agreement with FTX to continue operating independently. Bitvo’s shareholder, Pateno Payments, has discontinued the acquisition deal with FTX Canada and FTX Trading in accordance with the agreement terms, Bitvo announced on Nov. 15. The firm emphasized that its operations have not been affected as Bitvo has no material exposure to FTX or any of its affiliated entities. Bitvo trading operations, including withdrawals and deposits, are intact. Bitvo also stressed that it’s not party to the bankruptcy proceedings entered into by FTX and its affiliated entities. Bitvo has also never owned, …

The Australian government has doubled down on its commitment towards a robust regulatory framework for crypto following the catastrophic collapse of FTX last week. A spokesperson for Australian Treasurer Jim Chalmers said the Treasury said it is now planning on regulations to improve investor protection next year, according to a Nov. 16 report from the AFR. The spokesperson made the announcement in light of the FTX’s fall last week, stating that it was closely monitoring the fallout from the FTX collapse, “including further volatility in crypto-asset markets and any spillovers into financial markets more broadly,” adding: “These developments highlight the …

Australia’s financial markets regulator has suspended FTX Australia’s financial license following the appointment of a voluntary administrator to help nearly 30,000 Australians and 132 Australian companies get their funds back from tFTX. The announcement was made by the Australian Securities and Investments Commission (ASIC) on Nov. 16 local time, which suspended the Australian Financial Services (AFS) license of FTX’s local entity until May 15, 2023. Before its suspension, FTX Australia’s AFS license permitted it to create a market for derivatives and foreign exchange contracts to Australian-based retail and wholesale clients. Australian traders who signed up to trade digital assets were …

Will former FTX CEO Sam Bankman-Fried be held accountable for his mismanagement of investor funds? After most of the entities tied to his cryptocurrency exchange became insolvent last week, blockchain analysts concluded the insolvencies came as a partial result of the exchange’s trading house, Alameda Research, burning through nearly $10 billion in cash that technically belonged to FTX customers. To date, the company has declined to elaborate on the contractual details that made the arrangement possible — or legal. In the aftermath of FTX’s collapse, skeptics have questioned whether the elite — in Washington or elsewhere — will be motivated …

Federal Deposit Insurance Corporation acting chair Martin Gruenberg said the agency does not back any crypto firms in the United States, nor does its insurance cover losses from tokens. In a Nov. 15 hearing of the Senate Banking Committee on the oversight of financial regulators, New Jersey Senator Bob Menendez said lawmakers needed to “take a serious look at crypto exchanges and lending platforms” over risky behavior. Gruenberg responded to Menendez’s questions confirming there were “no cryptocurrency firms backed by the FDIC” and “FDIC insurance does not cover cryptocurrency of any kind.” FDIC insurance normally protects deposits at financial institutions …

United States President Joe Biden announced he would be nominating Federal Deposit Insurance Corporation, or FDIC, acting chair Martin Gruenberg to assume the position as part of a five-year term. In a Nov. 14 announcement, President Biden said he intended to nominate Gruenberg, who has previously served as acting FDIC chair from 2005 to 2006, 2011 to 2012, and from February 2022 to the present. Gruenberg assumed the temporary position following the resignation of former chair Jelena McWilliams. According to FDIC regulations, a chairperson of the FDIC’s board of directors may serve for a term of five years following a …

The shock wave around the FTX explosion was felt globally as it severely fractured investor confidence. However, seasoned crypto entrepreneurs and supporters — including Changpeng “CZ” Zhao and Salvadoran President Nayib Bukele — continue to see through the fog while pushing forward their vision for financial freedom. Bukele was the man behind Bitcoin’s (BTC) mainstream adoption in El Salvador. Despite the backlash he previously received for purchasing BTC as markets crashed, Bukele cited the recent FTX collapse to explain why Bitcoin is different. FTX is the opposite of #Bitcoin #Bitcoin ’s protocol was created precisely to prevent Ponzi schemes, bank …

Just days after Binance CEO Changpeng “CZ” Zhao warned about the onset of greater regulatory scrutiny amid the FTX collapse, the Financial Secretary of Hong Kong called for a stronger focus on transparency and proper supervision when dealing with virtual assets. Financial Secretary Paul Chan highlighted the importance of being “steady and cautious” when promoting the development of the virtual asset industry in Hong Kong. A poster accompanying Chan’s post, roughly translated to: “While actively embracing innovation, there must be a regulatory package that adapts and keeps pace with the times to properly manage risks, create prerequisites for the orderly …

Australia’s market regulator has released a list of the “top-10 ways to spot a crypto scam," amid a detected rise in crypto-related investment scams this year. The Australian Securities and Investment Commission's (ASIC's) public advisory statement was published as part of Scams Awareness Week 2022, an initiative that teaches Australians how to identify all forms of scams. The campaign takes place between Nov. 7 to 11. ASIC said that Australians had already lost more through “investment scams” in 2022 than the total $701 million figure in 2021, while ASIC Deputy Chair Sarah Court attributed cryptocurrencies to the steep incline in …

The United States Office of the Comptroller of the Currency, or OCC, has announced its representatives will be available on a one-to-one basis to discuss financial technology. In a Nov. 3 announcement, the OCC said entities considering fintech products and services, partnerships with banks, or concerns “related to responsible innovation in financial services” have the opportunity for one-hour meetings with its staff between Dec. 14-15. The government office said it will screen requests and proposed topics of discussions and announce virtual meeting times. The OCC announcement followed the department saying it planned to establish an Office of Financial Technology starting …

Members of the United Kingdom’s Digital, Culture, Media and Sport Committee have opened an inquiry to hear from the public on the potential benefits and risks of nonfungible tokens, or NFTs, and blockchain on the country’s economy. In a Nov. 4 announcement, the DCMS committee said its inquiry was related to the sudden growth of the NFT market, responding to fears the assets may be overvalued and at risk of the bubble bursting. According to the committee, NFT regulation in the U.K. is “largely non-existent,” with the DCMS planning to assess the assets ahead of a review by the treasury …